How Does Accounts Payable Automation Software Work?

Handling your AP workflows manually stalls your ability to rapidly and correctly respond to vendors which concludes with longer cycles, higher processing costs, less control, and subsequently, discontent vendors. Wave’s Accounts Payable Automation Solutions for the Richmond area improves the end-to-end AP system. We can support SAP, Netsuite, Microsoft Dynamics, Oracle, and more with cloud-based Accounts Payable Automation or as an on-premise solution.

Created with Best-In-Class Technology And Personalized To Your Company Needs, Wave Accounts Payable Software Delivers:

Invoice Capture

Our progressive invoice capture capability ingests and resolves invoices from multiple locations. OCR (optical character recognition) classifies and derives important information, erasing the possibility of errors and time related to with manual data entry.
Invoice

The invoice processor quickly finds and coordinates exceptions, automatically coordinates POs, and routes invoices through the acceptance process which can be done from your desktop or mobile device.
Data Delivery

Data delivery universally integrates with any ERP system including SAP, Oracle, NetSuite, or a private portal.
Analytics

Get operational clarity into your AP protocol through reporting in real-time, spend less time and resources, and enhance throughput.
Supplier Portal

The supplier portal allows suppliers to both load and manage their content, add attachments to foster communication, review the status of invoices or load them directly, and monitor purchase orders. This adds better efficiency to your internal operations, advances merchant relations, and reduces inquiries, invoice matching problems, and overall time it takes to process.

AP Automation Benefits

According to PayStream Advisors, the total price for invoicing is over $40 when processed manually. “Quicker approval of invoices” is frequently cited by users as the greatest perk of an automated system, right behind expense. In fact, data capture and system efficiencies can improve AP handling time by as much as 81% and reduce operational prices by 92%.

Reduce Costs

Reduce cost by removing manual data entry and processing.
Automate Processes

Confidently automate 90% or more of your AP operations, 3X cost savings compared to traditional processes, and 2% savings on annual expenditures.
No Late Payments

Completely get rid of late payments and missed discounts by automating AP.
Improve Compliance

Improve compliance with organizational policies and controls.
Simplified Audits

Simplify audits with standardized actions.
More Control

Experience better control and clarity of cash flow.
Vendor Satisfaction

Improve supplier relations and simplify the partnership through self-service portals.
Quicker Actions

Faster queries and approvals.